Pension

Here’s a guide to learn all about the current RREGOP
and
Here the government’s proposals on our pension plan

1. For retirements as of 1 January 2017:

a. Increase from 4.0% to 7.2% per year (or 0.33% per month to 0.6% per month), the reduction applicable for early retirement;
b. Increase the period for calculating the average pensionable salary for the pension of five (5) to eight (8) years;
c. Postpone the retirement age without reduction of 60 to 62 years.

2. Establish a mechanism for automatic adjustment of the age of eligibility for retirement without reduction, depending on the evolution of life expectancy.

3. At the latest within 30 days of the filing of the next actuarial valuation of the pension committee RREGOP, which is scheduled for autumn 2016, undertake exchanges relating to the introduction of conditional indexation of pensions.

It is also proposed that the following changes apply:

4. As of 1 January following the legislative amendments required:

a. Provide that for any period of absence without pay (excluding absences under the Act respecting labor standards and the Act respecting industrial accidents and occupational diseases) or any period of absence as part of a measure to reduce their working time (eg sabbatical agreement with deferred pay (CSTD), progressive start, development and reduction of working time), the participant contributes to the Plan as follows:
i. For absences subject to compulsory contribution, pay a mandatory contribution equivalent to 200% of employee contributions;
ii. For any absence and any periods of absence in connection with a measure to reduce working time, subject to agreements CSTD and gradual departure underway for the possibility to conduct a service purchase according to current pricing.

b. Specify the conditions for the gradual departure so that only the older employees at least 55 years old to be eligible, and, subject to current agreements.

5. At the date of signing of the collective agreements in the health sector and social services:

a. Abolish the possibility of maintaining the contribution to the pension plan for absences without pay of more than 30 days or partial absences of more than 20% of a full-time position;
b. Abolish, for schedules of four (4) days, payment by the employer of a part of the employee contribution to the pension plan.